Should base rate be lower or the fixed load?

Very recently banks moved to a new and lucid benchmark called the base rate from the earlier cryptic benchmark prime lending rate (BPLR) model.
A base rate is the minimum rate that a bank can charge its borrowers.which depends on certain factors such as cost of funds and negative carry on the funds banks are required to keep. Plus, a charge on the unallocable cost (of resources)..
For example:The base rate of IDBI Bank Ltd is 8%. With a load of 0.75% for loans between Rs20 lakh and Rs30 lakh over 15 years, the final interest rate comes to 8.75% (base rate plus load). Similarly, for loans between Rs30 lakh and Rs50 lakh for the same period, the load is 1% and, thus, the final interest rate goes up to 9%. Kotak Mahindra Bank Ltd, on the other hand, has a lower base rate of 7.25% and a higher load of 1.25% for loans for salaried customers, irrespective of the amount and tenor.
To know how to choose, you need to remember that the base rate is the variable component and the load is the fixed component of the interest rate. So, while the base rate can go up and down, the load remains constant.
Ideally, go for a loan that has the lowest base rate as well as the lowest load.
Source :Mint
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